Gilead pulls plug on magrolimab in AML

Gilead Sciences (Nasdaq: GILD) announced it has discontinued the Phase III ENHANCE-3 study of magrolimab in acute myeloid leukemia (AML), with the news sending the US biotech major’s shares down more than 4% to $74.42 by close on trading on Wednesday

Gilead, which already warned last year that it would be stopping the study last year, also revealed that the US Food and Drug Administration (FDA) has placed all magrolimab studies in myelodysplastic syndromes (MDS) and AML, including related expanded access programs, on full clinical hold.

The candidate was acquired via the  $4.9 billion buyout of Forty-Seven, which took place in 2020, as part of a push to diversify the pipeline and become less dependent on anti-virals.